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On Thursday, the evergreen buck stood still versus the other key currencies because traders monitored a fresh batch of American economic news later in the day, right after Wednesday’s firm economic surge and employment data spurred demand for the US currency.
The US dollar gained broad support after Wednesday’s data revealed that American economic surge for the second quarter was updated higher expected.
According to a separate report, in July the American private sector generated more jobs than expected.
Traders were looking ahead to economic reports on American jobless claims as well as personal spending for further clues on the strength of the US economy.
The Japanese yen weakened, with USD/JPY soaring 0.24% at a two-week maximum of 110.51. Meanwhile, the currency pair USD/CHF was intact sticking to 0.9559.
EUR/USD gained 0.14% being worth 1.1901. GBP/USD tumbled 0.28% trading at 1.2888.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Jump in to know the key market events and trading ideas for this week!
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
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